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Kalytera Therapeutics, Inc. Announces Closing of Public Offering
Kalytera Therapeutics, Inc. Announces Closing of Public Offering.
About this update from Claritas Pharmaceuticals Inc.
[{"type":"text","content":"\nNot for distribution to U.S. Newswire Services or for dissemination in the United States. Any failure to comply with this restriction may constitute a violation of U.S. Securities laws.\n SAN FRANSISCO and TEL AVIV, Israel, April 26, 2019 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSX Venture: KLY) (OTCQB:KALTF) (the “Company” or “Kalytera”) is pleased to announce the closing of its previously announced public offering (the “Offering”) of units of the Company (“Units”) for aggregate gross proceeds of CDN$6,758,300.  Echelon Wealth Partners Inc. (“Echelon”) and Paradigm Capital Inc. (and together with Echelon, the “Agents”) acted as agents for and on behalf of the Company in connection with the Offering. The Offering was made by way of a short form prospectus in British Columbia, Alberta and Ontario. The Company intends to use the net proceeds of the Offering to pay milestone payments owing to the former shareholders of Talent Biotechs Ltd, for research and development expenses and for general and administration expenses, as described in the Company’s final short form prospectus dated April 16, 2019. Pursuant to the Offering, the Company issued a total of  135,166,000 Units at an issue price of CDN$0.05 per Unit.  Each Unit consists of one common share in the Company (each a “Common Share”) and one Common Share purchase warrant (each whole warrant, a “Warrant”).  Each Warrant will entitle the holder thereof to acquire one Common Share at a price of CDN$0.065 (subject to customary adjustments for certain events) for a period of 36 months from the closing date of the Offering. “We are delighted to announce the closing of this offering with Echelon and we look forward to advancing Kalytera’s program in using cannabidiol in the prevention of graft versus host disease,” said Robert Farrell, Kalytera’s Chief Executive Officer. On closing of the Offering, the Agents were paid a commission comprised of a cash fee in the aggregate amount of CDN$506,872.50 and were issued an aggregate of 10,137,450 broker warrants.  Each broker warrant is exercisable for one Common Share at a price of CDN$0.05 until April 26, 2021.  The securities offered have not been, and will not be, register...